Thread regarding Bank of New York Mellon Corp. layoffs

How much is the sub pay amount?

I worked 7 years and got 16 week is sub pay. I keep asking about the actual sub amount per pay period and they keep beating around the bush. Does anyone know if the SUB pay will be around the same (if not a bit more) than our regular paycheck prior to termination? Obviously not including any OT, incentives etc

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| 2825 views | | 7 replies (last January 15, 2024) | Reply
Post ID: @OP+1qw2QNwh

7 replies (most recent on top)

@1gec

The only people that come to this site for answers are people who haven’t kept their phone and home email in mysource and also those who haven’t reached out to their managers or HR. Pretty much the same people who don’t even know their business phone or their Employee ID Number.

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Post ID: @4byy+1qw2QNwh

Please attend the HR sessions. They cover these things plus you can ask questions during the session. There will also be a site to log-in and print out your separation documents. You will have to sign-off on the separation doc in order to start receiving SUB pay. Your SUB pay amount will be the same as your current pay but will actually be higher take home since certain deductions will no longer be happening. PLUS, you should apply for unemployment. You will get the max unemployment that you are entitled to PLUS your full SUB pay. Enjoy your paid vacation while it lasts.

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Post ID: @1jdh+1qw2QNwh

This is ridiculous that HR doesn’t spell out all these answers when they lay people off and people have to come to THIS site to ask questions. Unacceptable, BNYM!!!

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Post ID: @1gec+1qw2QNwh

Just out of curiosity , with sub pay is it a weekly check/deposit or one lump sum payment of the total weeks combined you’re being paid for ?

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Post ID: @1gwq+1qw2QNwh

health insurance will only good till your separation date. So, good for the last month. After that, you will receive a mail asking if you want to pay on COBRA, with is way more expensive. Health Insurance was what hurt my sub paycheck the most.

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Post ID: @1orn+1qw2QNwh

good response, @uag

What about health insurance, will it remain the same I was paying or do I need to get COBRA now?

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Post ID: @1iog+1qw2QNwh

2 weeks per year or 3 month for grade K
greater of the above. Meaning you just joined last year but are grade K then you still get atleast 3 months - this minimum sub pay period increases with grade.

The actual amount you get will be greater than your paycheck as they also include employer portion of the social security taxes which you have to pay at the end of the year.
The first paycheck may be greater or lesser based on your accrued vacation hours.

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Post ID: @uag+1qw2QNwh

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